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Succession Group – New and analysis

Succession Group has acquired four more firms, which will add £255m in combined funds under management to the company. The acquired companies are Glasgow-based Independent Advisors (Scotland) and one of its appointed representatives Fergus Muirhead, London-based Booth Wealth Management and Warwickshire-based Rossmore Financial Services. Succession has bought 47 business between January 2014 and 31 December […]

James Stevenson has been named group chief executive of Succession Holdings, the parent company of Succession Advisory Services and Succession Group. Stevenson will start the role on 1 January 2018 and will also join the board. He will keep his position as managing director of Succession Group. Stevenson joined Succession Group in 2015 as group […]

19th December 20171:11 pm

Succession Group – Company overview

The Succession Group is a Plymouth-headquartered wealth management company that was launched in 2009. The business was initially set up as a consolidation vehicle but, with the subsequent creation of a network and launch of its own platform, grew beyond its original design.

Succession assists advisory firms by determining the capital outcome they wish to receive over a selected period, then working closely with them to create a bespoke model to achieve this. Its founder Simon Chamberlain passed away in March 2017.

In April 2017, Succession acquired member firms Paul Jones Financial Services and Equity Invest for a total consideration of £4m, after buying member firms Lewis Chambers and Plan4Wealth in March 2017 in a deal that valued the businesses at more than £10m.

This pattern of acquisitions has continued. A £20.6m deal in August 2017 saw it take over Prosperitas Independent Financial Advisers, Sigma Asset Management, Norris and Fisher Independent Financial Services and Tim Burton. In November 2017, it completed the acquisition of Accountants Financial Services (Scotland) and H&L Financial, adding more than £400m in funds under management to the business. In January 2018 it added £255m in combined funds under management to the company with the acquisition of Glasgow-based Independent Advisors (Scotland) and one of its appointed representatives Fergus Muirhead, London-based Booth Wealth Management and Warwickshire-based Rossmore Financial Services.

Succession bought 47 business between January 2014 and 31 December 2017 as it sought to strengthen its nationwide core business.

James Stevenson was appointed in May 2017 as Succession managing director and Sanjay Shah became managing director of Succession Advisory Services. Stevenson joined Succession in 2015 as group operating director. In September 2016 he assumed full commercial, operational and financial responsibility for the group. In December, Stevenson was named group chief executive of Succession Holdings, the parent company of Succession Advisory Services and Succession Group.

Succession Group has completed the double acquisition of Accountants Financial Services (Scotland) and H&L Financial, adding more than £400m in funds under management to the business. AFS is based in Edinburgh and Glasgow and H&L, which is the holding company for Inspire Wealth Management, is based in Manchester and Stratford-on-Avon. Both businesses started working with […]

Succession has acquired four more members, adding more than £520m in funds under management. The consolidator’s £20.6m deal will see it take over Prosperitas Independent Financial Advisers, Sigma Asset Management, Norris and Fisher Independent Financial Services and Tim Burton. The purchases take the number of firms acquired by Succession to 40. Succession corporate director Paul Morrish […]

James Stevenson is appointed Succession Group managing director and Sanjay Shah appointed managing director of Succession Advisory Services Succession Group has announced a number of new management appointments in a reshuffle of senior staff. James Stevenson has been appointed as its managing director and Sanjay Shah will become managing director of Succession Advisory Services. Stevenson joined […]

Succession Group has acquired member firms Paul Jones Financial Services and Equity Invest for a total consideration of £4m The consolidator has now acquired four businesses this year. It bought member firms Lewis Chambers and Plan4Wealth in March in a deal that valued the businesses at more than £10m. Paul Jones is based in Southampton and […]

Scottish financial planning firm Accountants Financial Services, which has £190m funds under management, has joined Succession as a member firm AFS is based in both Edinburgh and Glasgow. According to its website, six financial planners work for the firm. Managing director Paul Scarff says: “Becoming a member of Succession was a natural next step for […]

Succession chief executive and founder Simon Chamberlain has sadly passed away In a statement, the company says he died suddenly earlier today. No further announcements are being made at this time. Succession says: “Our thoughts and concerns are with his wife Helen and children Charlotte, Henry and Olivia at this difficult time.” The company will […]

Succession has acquired IFA Independent Women, a firm dedicated to providing financial advice for women, for an undisclosed sum Managing director Lesley Mackintosh will stay at the business, which she founded in 1997. Independent Women’s specialist advice will be available throughout Succession Group’s regional network of client-servicing hubs. As well as savings, investment and retirement […]

Succession has acquired member firms Lewis Chambers and Plan4Wealth in a deal that values the businesses at more than £10m The businesses have more than £200m funds under management and are based in Maidenhead and Farnham respectively. The businesses were acquired within six months of joining Succession as member firms. Lewis Chambers managing director Mark Stokes […]

There is room in the advice sector for a “whole of market SJP”, Succession chief executive Simon Chamberlain says, as the business readies itself for 10 member acquisitions this year In a business update this morning, Chamberlain said the business’s plan is to capitalise the business in 2018 either through a trade investment or by floating […]

More on the Succession Group

Succession has bought member firm Affinity Independent Management and Affinity Independent Schools Consultancy in a deal valued at more than £5m The acquisition is the latest to be announced by Succession, which has also acquired firms including Caledonia Financial Planning, Maze Wealth, and Michael Moore Life & Pensions this year. The consolidator has set a target to buy […]

Succession is facing claims from two shareholders over unfair dismissal The first case is being brought by Lynne Rowland, who previously headed up the integration of new firms into Succession. It is being heard at Watford Employment Tribunal on 10 October over a three-day period. Rowland is claiming for unfair dismissal after she was made […]

Maidenhead-based IFA Lewis Chambers has joined Succession Advisory Services, adding £200m in assets under advice Under Succession’s acquisition model, firms initially become members with a view to being acquired once they have integrated Succession’s processes and fulfilled certain criteria. Lewis Chambers has 400 clients and a turnover of £2m. Managing director Mark Stokes says: “The […]

Consolidator Succession has bought Caledonia Financial Planning for £2.5m. Succession has had a relationship with the Hamilton-based adviser since 2013, during which time funds under management have grown to £150m. Caledonia managing director Alan Craig says: “While other consolidators have gone restricted or given away their assets to other platforms and fund management groups, we […]

Succession has acquired Beckenham-based advice firm Maze Wealth for £1.2m, a week after securing £25m in new funding. Maze became a member of the consolidator in 2013 and now has £40m of funds under management. Last week, Succession secured £25m to fund further acquisitions. The latest deal is the sixth completed so far this year. […]

Succession Group has received a £25m investment boost from an HSBC loan and its existing shareholders to continue its acquisition strategy. Succession wants to acquire the best 50 firms from its affiliated membership by the end of 2017. In the past three years it has bought 25 firms. Succession group chief executive Simon Chamberlain says: […]